The scrip of Karur Vysya Bank today fell by over 3 per cent after the company reported a 40 per cent fall in net profit for the September quarter.
The stock declined by 3.23 per cent to end at Rs 124.45 on BSE. Intra-day, it dropped 4.93 per cent to Rs 122.25.
On NSE, shares of the company slipped 3.44 per cent to close at Rs 124.70.
Private sector Karur Vysya Bank today reported a 40 per cent fall in net profit at Rs 75.65 crore for the September quarter due to increased provisioning for rising bad loans.
The bank had registered a net profit of Rs 126.31 crore in the similar July-September quarter of the previous fiscal.
Total income of the bank was at Rs 1,632.50 crore in the July-September period of 2017-18, up from Rs 1,610.77 crore in the same period of 2016-17, the bank said in a regulatory filing.
Its gross non-performing assets (NPAs) hit 4.83 per cent of the gross loans as on September 30, 2017 as against 2.29 per cent till the same period of 2016.
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